The improvement points to some easing of distress in Poland’s manufacturing sector after the index collapsed to an all-time low of 31.9 in March in the wake of the COVID-19 pandemic.
The pandemic depressed oil prices globally, causing a 23.4% y/y collapse in Poland’s fuel prices. That drove the headline figure down although price growth in other main segments offset the decline to a degree.
Gold-exporting Uzbekistan has the emerging Europe region's best shot at achieving positive GDP growth this year. Other economies managed to expand in Q1 but will be pushed into full-year contractions.
Steady growth in new cases in several countries despite easing of lockdowns, numbers pushed up by outbreaks at industrial plants.
PM Mateusz Morawiecki says Poland has controlled the pandemic much more effectively than some of the world's richest countries, as he relaxes restrictions on shops, restaurants and public gatherings.
A steep reduction in shops’ turnover in April is hardly a surprise, given the fourth month was the first – and only thus far – full month of lockdown, imposed by the authorities to limit the spread of the pandemic.
Central Europeans in need of a culture fix after weeks of lockdown can now watch films at a growing number of drive-ins and outdoor cinemas opened in car parks, airport aprons and other open spaces as restrictions are eased.
A contraction had been expected in April, but at 24.6% y/y the magnitude of the fall surprised the market.
The reading sees the PPI deflation deepen its fall after the index slid 0.5% y/y in March.
Multiple financial fires raging across Central and Eastern Europe could have been put out had EU institutions responded sooner to the populist lawfare banks have been put through over the past few years.
Performance ranges from a contraction of 5.4% q/q in Slovakia to growth of 0.3% q/q in Bulgaria and Romania.
Like other public media in Poland, Programme Three has been stacked with PiS loyalists, tilting the radio station’s editorial policy heavily to the right.
Poland’s largest opposition party hopes Trzaskowski will party’s presidential bid after the previous pick, Malgorzata Kidawa-Blonska, struggled with the challenge of campaigning during the coronavirus pandemic.
Outbreak piles further pressure on Poland's coal sector that is already grappling with competition from cheaper imports, mild winters and the development of renewable energy sources.
What is behind the magic of high numbers of anti-crisis programmes to combat the economic fallout from COVID-19? Some CEE countries can afford policy responses like developed markets as their central banks kick-start QE support programmes.
Attention now shifts to the summer vote, for which the incumbent President Andrzej Duda will have to campaign during an unprecedented economic crisis in the wake of the coronavirus pandemic.
A worldwide lockdown has created havoc for retailers as their customers are forced to stay at home. There has been a little respite as sales in March surged due to panic buying but that has given way to a lockdown that keeps stores closed
Governments that failed to rise to the crisis — through denial, dismissing the dangers or simply incompetence, resulting in unnecessary deaths and economic hardship — should fear their day of reckoning.
Last minute decision to cancel election plunged Poland's politics into ever-bigger chaos amidst the coronavirus pandemic and the looming economic crisis.
The decision to cancel the Sunday vote – regardless of its highly dubious legal character – appears to be a setback for ruling PiS, which has said for weeks it wants the election to happen in May.